The company expects to issue the notes on or around August 20, 2026, pending the satisfaction of standard closing conditions. BNP Paribas Securities Corp., BofA Securities, and Citigroup Global Markets are managing the book-running process for the offering, which is conducted under a shelf registration statement filed with the SEC in early 2024.

This move comes as the Miami-based cruise giant looks to manage its capital structure across a portfolio that includes Royal Caribbean, Celebrity Cruises, and Silversea. By replacing floating-rate debt with these long-term fixed-rate notes, the group aims to stabilize its interest obligations through the next decade.